How Will My Lump-Sum Settlement Affect My Future Social Security Disability Paymentswhen Social Security Learns Youve Got Income From Another Source, Your Monthly Payments Are Either Reduced Or Cut Entirely For A Few Months While You Use Up The Lump Sum Of The Workers Comp Award?
“How will my lump-sum settlement affect my future Social Security disability payments?” When Social Security learns you’ve got income from another source, your monthly payments are either reduced or cut entirely for a few months while you use up the lump sum of the Workers’ Comp award. EXAMPLE: if SSA normally sends you $800/month, then the Comp Insurer sends $8000, then Social Security won’t pay you for 10 months (10 X 800 = $8000). “How does the Medicare set-aside affect my medical expenses?” It doesn’t affect your expenses, in that the doctors still charge the same amount and you still pay the same co-payments and bill Medicare for the balance. The ‘weirdness’ comes in the lump-sum you hold ‘In Trust’ for the Government: Medicare looks over the reports then estimates Medicare will pay for care over your lifetime to keep your back functioning. Let’s guess in your case, Medicare estimates it will pay $15,000 on your for that industrial back condition. That results in the Comp Insurer
